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Pagcor asked to remit P5.8B in unpaid dividends to gov’t coffers

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Pagcor chairman and  chief executive officer Cristino Naguiat  INQUIRER file photo

The Philippine Amusement and Gaming Corp. has been asked by the Department of Finance to remit to state coffers P5.8 billion worth of unpaid dividends during the term of President Gloria Macapagal-Arroyo.

Posted: February 24th, 2014 in Latest Business Stories | Read More »

Biz Buzz: Gaming woes

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This show-biz personality—who’s no longer active these days—recently became the talk of the town, or at least the moneyed circle. This is because of his assets now being hawked out to high networth individuals. One yacht had been sold and another is up for grabs, according to the grapevine. One can only guess how many fancy cars and real estate assets this guy will add to the secondary market.

Posted: February 12th, 2014 in Headlines | Read More »

Casinos eyed for Mandaue reclamation

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The winning bidder of the P9-billion reclamation and development project in Mandaue City, Cebu is studying a plan to build casinos within the 131-hectare complex, similar to what is being done at the Entertainment City gaming hub along the Manila Bay shoreline.

Posted: October 15th, 2013 in Headlines | Read More »

Okada group vows to pursue $2B entertainment hub in Manila

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Kazuo Okada AP FILE PHOTO

The group of Japanese tycoon Kazuo Okada has affirmed commitment to a $2-billion entertainment hub being developed in the Philippines, adding that it’s finalizing negotiations with a prospective local partner alongside efforts to deal with local land ownership restrictions.

Posted: July 16th, 2013 in Latest Business Stories | Read More »

Gokongwei, Okada groups fail to clinch deal on Manila Bay Resorts project

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Kazuo Okada (left) AP file photo and John Gokongwei (photo by Nelson Matawaran): Scrapped casino talks

The groups of tycoon John Gokongwei and Japanese pachinko mogul Kazuo Okada have aborted discussions on a partnership for the latter’s Manila Bay Resorts, an integrated entertainment and resort project in Manila’s future gaming hub Entertainment City.

Posted: May 30th, 2013 in Editor's Pick,Featured Gallery,Headlines | Read More »

SEC OKs hike in Melco Crown’s authorized capital stock

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The local gaming unit of Macau’s Melco Crown group has obtained approval from the Securities and Exchange Commission to jack up its authorized capital stock ahead of a $400-million fresh equity offering plan.

Posted: April 10th, 2013 in Latest Business Stories | Read More »

Macau casino group eyes raising $400M in Ph stock market

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AP FILE PHOTO

Melco Crown (Philippines) Resorts Corp. (MCP), the backdoor-listing vehicle for the local gaming operations of Macau’s Melco gaming group, plans to raise up to $400 million from a fresh equity offering.

Posted: March 21st, 2013 in Latest Business Stories | Read More »

PH gambling business seen comparable to Vegas in a few years

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A $2 BILLION entertainment complex will rise in the Pagcor Entertainment City.

Macau casino magnate Lawrence Ho has no doubt that the Philippine gaming industry could be as big as Las Vegas or Singapore’s in the next five to six years.

Posted: March 15th, 2013 in Latest Business Stories | Read More »

AMLC seeks new amendments to law against dirty money deals

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BSP governor and AMLC chairman Amando Tetangco Jr.: Further strengthening of AMLA. FILE PHOTO

The Anti-Money Laundering Council hopes to persuade Congress to amend again the law against dirty money transactions, saying that the continued exclusion of casinos from a list of establishments required to report their financial activities has been hurting the Philippines’ image abroad.

Posted: March 4th, 2013 in Latest Business Stories | Read More »

PH gambling business seen surpassing Singapore’s $5.6B market by 2018

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credit-suisse-logo

The Philippines’ burgeoning gaming industry may surpass Singapore’s $5.6-billion gaming market by 2018 on the back of a larger local mass market and likely spillover of foreign high-rollers, foreign bank Credit Suisse said.

Posted: February 28th, 2013 in Latest Business Stories | Read More »

4 gaming firms licensed to operate

A $2 BILLION entertainment complex will rise in the Pagcor Entertainment City.

Four license holders form the backbone of Philippine Amusement and Gaming Corp’s. (Pagcor) Entertainment City.

Posted: November 20th, 2012 in Latest Business Stories | Read More »

Pagcor chief sees Philippines as key player in int’l gaming in few years

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MANILA, Philippines—The head of the state-owned Philippine Amusement Gaming Corp. (Pagcor) sees the country becoming a key player in international gaming, accounting for up to a tenth of the global gaming market in a few years.   In a statement that reported on the highlights of a recent regional forum, Pagcor chairman Cristino Naguiat Jr. [...]

Posted: October 24th, 2012 in Latest Business Stories | Read More »

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